FAS 0.00% 0.4¢ fairstar resources limited

not so voluntary suspension, page-6

  1. 20 Posts.
    Just to add another aspect, I also sold out a FAS a little while ago. I was lucky to get in quite low and sell at a very healthy profit so I guess the decision was easy for me, but a number of factors weighted into my decision:

    1) Funding has been "imminent" for years, long enough to raise doubts.
    2) The auditors report was scathing and to be honest down right scary. The company is in a diabolical financial position.
    3) Given the financial situation of the company, I see no reason why anyone would invest money when they can just let FAS get closer and closer to death and hence get a much much better deal.

    I must admit, the recent activity around the resignation of a non-executive director, non-appearance of KR at the AGM, the TH, the Reuters article, the market announcement written by a semi-literate anonymous individual and the subsequent suspension have all served to reinforce my decision.

    Having said all that, I'm still hopeful that this stock gets up, especially for those LT holders looking to get out of this unscathed.
 
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Currently unlisted public company.

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